Stratos Wealth Partners LTD. Acquires 8,432 Shares of The Bank of New York Mellon Corporation $BK

Stratos Wealth Partners LTD. increased its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 56.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 23,479 shares of the bank’s stock after acquiring an additional 8,432 shares during the period. Stratos Wealth Partners LTD.’s holdings in Bank of New York Mellon were worth $2,558,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BK. Wesbanco Bank Inc. boosted its holdings in Bank of New York Mellon by 91.6% during the third quarter. Wesbanco Bank Inc. now owns 9,076 shares of the bank’s stock valued at $989,000 after purchasing an additional 4,339 shares in the last quarter. Rockland Trust Co. acquired a new stake in Bank of New York Mellon in the 3rd quarter valued at $270,000. Wealthfront Advisers LLC grew its position in Bank of New York Mellon by 8.4% in the third quarter. Wealthfront Advisers LLC now owns 94,536 shares of the bank’s stock valued at $10,301,000 after acquiring an additional 7,336 shares during the period. Prospera Financial Services Inc raised its stake in Bank of New York Mellon by 40.3% during the third quarter. Prospera Financial Services Inc now owns 9,261 shares of the bank’s stock worth $1,009,000 after acquiring an additional 2,658 shares in the last quarter. Finally, Profund Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 3.9% during the third quarter. Profund Advisors LLC now owns 10,782 shares of the bank’s stock valued at $1,175,000 after acquiring an additional 404 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BK. Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Royal Bank Of Canada raised their price objective on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 14th. Wells Fargo & Company boosted their target price on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 14th. Truist Financial upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their target price for the stock from $119.00 to $134.00 in a research report on Wednesday, January 7th. Finally, TD Cowen boosted their price objective on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK opened at $117.67 on Friday. The firm’s 50 day simple moving average is $119.16 and its 200 day simple moving average is $110.98. The company has a market capitalization of $82.05 billion, a price-to-earnings ratio of 15.88, a P/E/G ratio of 1.07 and a beta of 1.10. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $128.76. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The company had revenue of $5.07 billion for the quarter. As a group, sell-side analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s payout ratio is currently 28.61%.

About Bank of New York Mellon

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.